Iranian minister warns of energy prices and war

In a statement on his social media account, Iranian Foreign Minister Abbas Araghchi reported that, according to his country's intelligence, they have obtained information indicating large-scale efforts to influence prices in energy markets. The Iranian minister underscored this concern by stating, "Our intelligence shows there are major efforts to manipulate energy markets."

Araghchi alleged that certain groups within the U.S. government are manipulating the media to intervene in prices, noting that personal interests lie behind these attempts and that there is a desire to keep U.S. President Donald Trump "trapped in a losing war." He also stated that pro-Israel groups are encouraging conflicts by trying to portray the war environment in a more positive light.

Furthermore, Araghchi emphasized that people living in the U.S. are being directly affected by rapidly rising energy prices.

In response to the Iranian official, who noted that transit through the Strait of Hormuz has been significantly restricted, the Trump administration argued that they maintain control over the strait and that oil shipments are continuing without issues. However, data from independent firms tracking international maritime transport sheds a different light on the actual situation; while only 5 commercial ships passed through the strait on August 25, this number remained at 4 the previous day. Yet, it is stated that in the pre-war period, an average of 120 ships passed through here daily.

The rapid rise in energy prices has directly affected the American public. According to data from the U.S. Energy Information Administration, the average price of regular gasoline in the country was around 2.9 dollars per gallon before the war began. However, following the attacks launched by the U.S. and Israel against Iran on February 28, this figure rose to as high as 4.6 dollars in May, driven particularly by the surge in Brent crude oil prices. During the same period, the price of a barrel of Brent crude exceeded 120 dollars, raising concerns in global markets.

Araghchi pointed to manipulation in energy markets and war policies, stating, "Pro-Israel actors are also encouraging the war with assessments that paint a rosy picture."

News Source: 12punto